Was in Forbearance & want to Payoff
Date: Wed, 03/20/2013 - 18:41
Was in Forbearance & want to Payoff
Hi all,
Hoping to get some help on my specific situation. I have a large sum of student loans and initially when I graduated I was not able to pay my monthly payment. I deferred and when I got a job I began to pay. I then lost my job and was unable to make make payments so I called and they said no problem, we can put your account in forbearance.
I recently inherited an equal amount of money owed, and would like to pay off my student loans. The amount of interest that I haven't paid has been capitalized and added to my principal balance.
(I now also have a good job and can make my monthly payments).
My question is -- Can I negotiate with DOE (owners of loans, but serviced by SallieMae) to pay the original principal amount rather that principal plus the interest that has been capitalized?
Thanks!
Hoping to get some help on my specific situation. I have a large sum of student loans and initially when I graduated I was not able to pay my monthly payment. I deferred and when I got a job I began to pay. I then lost my job and was unable to make make payments so I called and they said no problem, we can put your account in forbearance.
I recently inherited an equal amount of money owed, and would like to pay off my student loans. The amount of interest that I haven't paid has been capitalized and added to my principal balance.
(I now also have a good job and can make my monthly payments).
My question is -- Can I negotiate with DOE (owners of loans, but serviced by SallieMae) to pay the original principal amount rather that principal plus the interest that has been capitalized?
Thanks!
They will not settle unless
They will not settle unless the loan is in default and only then will the settle on the collection costs that they have added on top,. You have a good job...you wont get hardship.
